Aviation stocks nosedive

New Delhi: The stock prices of two major Indian airlines, IndiGo and SpiceJet, on Friday experienced a significant decline following the recommendation by a parliamentary panel to implement route-specific capping of airfare. The proposal also included the establishment of a distinct regulatory body to oversee and manage air ticket prices, responding to mounting customer grievances regarding escalating airfares.

The Parliamentary Panel expressed dissatisfaction with the current self-regulation efforts by airlines, citing the inadequate response from the civil aviation ministry on the issue of airfare regulation.